Organisation

Wall Street Exchange Centre LLC/UAE Exchange Centre LLC

Direct credit to beneficiary's account with Central Bank only

Maximum amount that can be credited

Rs.25 lakhs per day per customer

Is amount paid in cash

No cash payment

Restrictions on number of transactions

No restrictions for personal remittances.

Does the bank charge any commission to receiver?

No charges

Time taken for crediting beneficiary's account

Credited normally in one day

What are the documents the receiver to  produce

Since the amount is directly credited to the beneficiary's account, no documentary proof required.  Beneficiary need not visit our Branch.

Whether this remittance facility can be used for trade payments

Subject to RBI directives.

Maximum Rs.2 lakhs per day per customer